| dc.creator |
Marinheiro, Carlos Jose Fonseca |
|
| dc.date |
2005 |
|
| dc.date.accessioned |
2013-10-16T07:01:14Z |
|
| dc.date.available |
2013-10-16T07:01:14Z |
|
| dc.date.issued |
2013-10-16 |
|
| dc.identifier |
http://hdl.handle.net/10419/18763 |
|
| dc.identifier |
ppn:479301638 |
|
| dc.identifier.uri |
http://koha.mediu.edu.my:8181/xmlui/handle/10419/18763 |
|
| dc.description |
This paper analyses the sustainability of Portuguese public finances, making use of a long dataset with more than a full century of observations. The use of such a long dataset is appropriate because both unit root and cointegration tests require a long period of data. The sustainability testing procedure is based on unit root and cointegration tests. We find considerable evidence in favour of sustainability for the 1903-2003 period. The overall conclusion of sustainability for the 1903-2003 period is not maintained for the more recent 1975-2003 period, which is characterised by the largest GDP deficit ratios of our sample. This latter period appears to signal a shift to an unsustainable path in Portuguese fiscal policy. Hence, our results suggest that fiscal consolidation efforts must, in fact, be continued in Portugal. |
|
| dc.language |
eng |
|
| dc.relation |
CESifo working papers 1399 |
|
| dc.rights |
http://www.econstor.eu/dspace/Nutzungsbedingungen |
|
| dc.subject |
H60 |
|
| dc.subject |
E60 |
|
| dc.subject |
ddc:330 |
|
| dc.subject |
fiscal sustainability |
|
| dc.subject |
sustainability of public debt |
|
| dc.subject |
intertemporal budget constraint |
|
| dc.subject |
government deficits and debt |
|
| dc.subject |
Portugal |
|
| dc.subject |
Finanzpolitik |
|
| dc.subject |
Haushaltsdefizit |
|
| dc.subject |
Öffentliche Schulden |
|
| dc.subject |
Verschuldungsrestriktion |
|
| dc.subject |
Schätzung |
|
| dc.subject |
Portugal |
|
| dc.title |
Sustainability of Portuguese fiscal policy in historical perspective |
|
| dc.type |
doc-type:workingPaper |
|
| dc.coverage |
1903-2003 |
|